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San Donato Milanese (Milan), 31 March 2015 – Eni, following its participation in the competitive International Bid Round launched by the Republic of the Union of Myanmar, signed two Production Sharing Contracts (PSC) for offshore blocks MD-02 and MD-04. The contracts were signed in Nay Pyi Taw, in the presence of the country’s Energy Minister. The Joint Venture is between Eni, the Operator with an 80% participating interest through Eni Myanmar B.V, and Petrovietnam Exploration Production Corporation Limited (20%).
MD-2 Block is located in the southern part of the Bay of Bengal, in the Rakhine Basin, approximately 135 kilometres from the coast, west of the Yadana field, the major offshore discovery in Myanmar. The Block covers an area of 10,330 square kilometres in water depths ranging from 500 to 2400 metres.
MD-4 Block is located in the Moattama-South Andaman Basin, approximately 230 kilometres from the coast, west of the Yetagun gas field. The block covers an area of 5,900 square kilometres in water depths ranging from 1,500 to 2,200 metres.
"With the contracts signed today, we have further expanded our exploration portfolio through new and important opportunities, which allow Eni to strengthen its presence in a Country with a significant potential and a rapidly developing economy. Today we become one of the largest operators in the exploration activities in Myanmar, taking a further step in our organic growth strategy in Southeast Asia where we are already present in China, Vietnam and Indonesia", Eni’s CEO Claudio Descalzi said.
The contracts for the two blocks foresee a study period of two years, followed by an exploration period of six years, subdivided in 3 phases.
Eni entered Myanmar in July 2014, signing the Production Sharing Contracts for the exploration of two onshore Blocks, RSF-5 and PSC-K, located in the prolific Salin Basin and the unexplored Pegu Yoma-Sittaung Basin, respectively.
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EnergIA (ener'dʒia) is a system based on Generative Artificial Intelligence.
Thanks to this technology, we can respond to your requests by querying the most relevant content and documents available on eni.com. (Note: financial documents from the last 12 months and press releases from the last 2 years are considered.)
Through EnergIA, you can delve into topics of interest and have a real-time window into the world of Eni.
If you wish to search for a specific document, press release or news, use the traditional search engine via the magnifying glass icon.
Like all systems that leverage Generative Artificial Intelligence, EnergIA may generate inaccurate or outdated responses. Always consult the sources that EnergIA proposes as the origin of the generated information.
If the system fails to find an exact match for the requested content, it still tends to provide a response.
If you find any inaccuracies in the provided response, please send us your feedback at the bottom of the page: it will be very helpful for us to improve.
Remember that the content generated by the system does not represent Eni’s official position. We therefore invite stakeholders to refer to their designated contacts for official statements: Press Office for journalists, Investor Relations for analysts and investors, Company Secretariat for shareholders etc..
EnergIA can understand questions posed in almost all languages, but we prefer to provide you with a response in English or Italian, the two languages available on eni.com. If you ask a question in Italian, the content on the site in Italian will be consulted. If you ask it in English or any other language, the content in English will be consulted. (Note: the language Eni uses for financial documents/content is predominantly English.)
If questions are formulated that violate the set security criteria, the system will not proceed with processing the response. Please remember not to send personal data.
By using this service, the users acknowledge that they have read and accepted the terms and conditions of use.
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